Intellectual Property Regime
Cyprus offers an efficient Intellectual Property (IP) tax regime coupled with the protection afforded by EU Member States and by the signatories of all major treaties and protocols.
Patents (patented inventions)
- Patents are protected in Cyprus by a national patent certificate issued by the Registrar of Companies and Official Receiver.
- A European patent is issued by the European Patent Office.
- An international patent is issued under the provisions of the Patent Cooperation Treaty, administered by the World Intellectual Property Organisation (WIPO).
Trademarks/Service Marks/Designs (used or applied on products)
- Protected in Cyprus under the Companies Act, Chapter 268.
- EU regulation 2007/2009 and EU regulation 6/2002 offer via Cyprus uniform protection throughout the EU.
- Cyprus being a signatory to the Paris Treaty on the Protection of Industrial Property, as administered by WIPO, and a party to the Madrid protocol, offers global protection of trademarks, service marks and designs.
Copyrights (literary works, dramatic works, musical works, scientific works, artistic works, sound recordings, films, broadcasts, published editions, publications, software programmes)
- Protected in Cyprus under the Law 59/76 on the protection of intellectual property.
- The Bern Convention for the protection of Literary and Artistic Works, to which Cyprus is a
- Signatory, guarantees protection to all Convention member states with no further process being required.
The major tax benefits of Cypriot IP companies are:
- 80% of worldwide royalty income generated from IP owned by Cypriot resident companies (net of any direct expenses) is exempted from any form of taxation.
- 80% of the profit generated from the disposal of an IP owned by a Cypriot resident company (net of any direct expenses) is exempted from any form of taxation.
- Any expenditure of a capital nature for the acquisition or development of IP is claimed as a tax deduction over a five year period on a straight line method.
Global Consultants have a team of professionals dedicated to providing expert professional services in relation to intellectual property rights. Our IP specialists possess extensive practical knowledge, understanding and experience of the IP regime in Cyprus and abroad and provide a wide range of services, at competitive fee rates, to ensure our clients achieve their goals.